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US 500 cash index extends its series of record highs Tests 123.6% Fibonacci extension of its 2022 downtrend Oscillators look overbought, increasing risk of a pullback The US 500 stock index (cash) has been staging an impressive rally since it bottomed out in October 2023, generating consecutive all-time highs. Given that the price is trading into uncharted waters, the Fibonacci extensions […]

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24/01/2024

Sunset Market Commentary

Markets The main ‘news’ for (global) trading was already available from the BoJ policy decision early this morning. However, the impact especially on global bond markets was close to non-existent. The Bank left the parameters of its policy (-0.1% policy rate, 0.0% target for the 10-y yield with an allowed deviation of 1.0%), unchanged. The […]
30/05/2024

Elliott Wave Analysis Expects a Flat Correction as Wave 2 in EURUSD

Short Term Elliott Wave in EURUSD suggests rally from 4.16.2024 low unfolded as a 5 waves impulse Elliott Wave structure. Up from 4.16.2024 low, wave ((i)) ended at 1.0753 and pullback in wave ((ii)) ended at 1.0649. The pair extends higher again in wave ((iii)) ended at 1.0812 and correction in wave ((iv)) towards 1.0723 […]
09/09/2024

An Eventful Week Ahead

In focus today In the euro area, we receive the Sentix investor confidence indicator, which is the first indicator of investor sentiment in September. Overnight, Chinese trade data for August is released. While exports recovered during H1, momentum has faded due to a weaker global manufacturing sector. Hence, one of China’s few growth drivers in […]